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A restaurant borrowed $15,000 to remodel. The loan is for 7 years and the yearly interest rate is 4.25%. How much interest will the restaurant pay?
44.9k views
6 votes
A restaurant borrowed

$15,000 to remodel.
The loan is for 7 years and
the yearly interest rate is
4.25%. How much interest
will the restaurant pay?

User Tuhin Bepari
by
8.1k points

1 Answer

9 votes

Answer:

$4462.50

Explanation:

simple interest =principal × rate × time\100

A restaurant borrowed $15,000 to remodel. The loan is for 7 years and the yearly interest-example-1
User BobDroid
by
7.4k points
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